SBA Communications Corporation $SBAC Shares Sold by Spire Wealth Management

Spire Wealth Management lowered its stake in SBA Communications Corporation (NASDAQ:SBAC) by 88.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176 shares of the technology company’s stock after selling 1,287 shares during the quarter. Spire Wealth Management’s holdings in SBA Communications were worth $41,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. CVA Family Office LLC boosted its stake in shares of SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of SBA Communications in the first quarter valued at approximately $33,000. Allworth Financial LP lifted its stake in shares of SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after buying an additional 62 shares during the period. Geneos Wealth Management Inc. grew its stake in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the period. Finally, Summit Securities Group LLC acquired a new position in SBA Communications in the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $194.75 on Friday. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.01 and a beta of 0.80. SBA Communications Corporation has a 1-year low of $185.45 and a 1-year high of $245.16. The business has a 50-day moving average of $195.23 and a 200-day moving average of $217.38.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.09. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. During the same quarter last year, the company earned $3.32 earnings per share. SBA Communications’s revenue for the quarter was up 9.7% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. Research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th will be paid a dividend of $1.11 per share. The ex-dividend date is Thursday, November 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is currently 57.89%.

Analyst Ratings Changes

SBAC has been the topic of a number of research analyst reports. BMO Capital Markets decreased their price target on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday. Citigroup dropped their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. Scotiabank began coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price objective for the company. Finally, JMP Securities set a $280.00 price objective on SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.69.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.